Wall Street Zen Upgrades Standard BioTools (NASDAQ:LAB) to "Hold"

Key Points

• Standard BioTools has been upgraded by Wall Street Zen from a "sell" to a "hold" rating, reflecting a potential stabilization in the company's stock outlook.
• TD Cowen also downgraded Standard BioTools, reducing its rating from "buy" to "hold" while setting a target price of $1.55.
• Insider trading activity indicates confidence, with a director purchasing 150,000 shares at an average cost of $1.22, bringing insider ownership to 23.16% of the company's stock.

Wall Street Zen upgraded shares of Standard BioTools (NASDAQ:LAB - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other research firms have also weighed in on LAB. Cowen lowered shares of Standard BioTools from a "buy" rating to a "hold" rating in a report on Wednesday, August 13th. TD Cowen lowered shares of Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 target price on the stock. in a report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $1.55.

Standard BioTools Trading Down 3.1%

LAB traded down $0.04 during trading on Friday, reaching $1.23. 1,147,035 shares of the company's stock were exchanged, compared to its average volume of 1,326,034. Standard BioTools has a one year low of $0.92 and a one year high of $2.32. The stock has a market capitalization of $469.85 million, a PE ratio of -3.84 and a beta of 1.32. The firm has a fifty day moving average price of $1.27 and a two-hundred day moving average price of $1.19.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 150,000 shares of Standard BioTools stock in a transaction dated Friday, August 15th. The shares were bought at an average cost of $1.22 per share, with a total value of $183,000.00. Following the purchase, the director owned 59,750,000 shares in the company, valued at $72,895,000. This trade represents a 0.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have acquired 358,220 shares of company stock valued at $442,446 and have sold 39,125 shares valued at $37,918. Corporate insiders own 23.16% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new position in Standard BioTools during the first quarter worth $94,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Standard BioTools by 80.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 554,203 shares of the company's stock worth $970,000 after acquiring an additional 247,332 shares in the last quarter. Invesco Ltd. boosted its stake in Standard BioTools by 7.5% during the fourth quarter. Invesco Ltd. now owns 175,041 shares of the company's stock worth $306,000 after acquiring an additional 12,194 shares in the last quarter. ProShare Advisors LLC boosted its stake in Standard BioTools by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 83,074 shares of the company's stock worth $145,000 after acquiring an additional 27,334 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Standard BioTools by 9.3% during the fourth quarter. Northern Trust Corp now owns 2,875,160 shares of the company's stock worth $5,032,000 after acquiring an additional 243,522 shares in the last quarter. 53.74% of the stock is owned by institutional investors.

About Standard BioTools

Standard BioTools Inc, together with its subsidiaries, provides instruments, consumables, reagents, and software services for researchers and clinical laboratories in the Americas, Europe, the Middle East, Africa, and the Asia pacific. It operates through two segments: Proteomics and Genomics. The company offers analytical systems, such as CyTOF XT System, a CyTOF XT mass cytometry system performs automated high-parameter single-cell analysis using antibodies conjugated to metal isotopes; and Hyperion XTi imaging system, a spatial biology instrument.